Cryptocurrency Highlights Of The Week

The Digital Chamber informing congress about Bitcoin, and Dogecoin regaining some of its momentum. Here are the cryptocurrency highlights of week 35:

The Chamber of Digital Commerce (CDC) has held a “Congressional Bitcoin Education Day” yesterday on Capitol Hill, to the purpose of educating Congressional staff members about Bitcoin. This is just one of the many incentives to teach the public about Bitcoin, although a more important one as regulators can significantly affect the success of cryptocurrencies.

At the same time, the Dogecoin price experienced its best week in a while. The price had been declining pretty much constantly for months, but increased by 20 percent over the past week. Along with the digital currency finally enabling merged mining with Litecoin, and nearly two billion Dogecoins destroyed for Dogeparty it looks like the battered currency is regaining some of its momentum.

Ecuador banned decentralized cryptocurrencies last month, and has heralded plans for its own digital currency. The country’s central banks plans to start circulating the electronic currency in December. Unlike Bitcoin, the government could create as much of the new currencies as desired, and thereby risk inflation. It is unclear how this will work out, but so far it sounds like nothing but a new fiat currency only without cash.

Bitcoin pioneer Hal Finney passed away this week after battling ALS for five years. Finney was the recipient of the first Bitcoin transaction, and a key figure in the world of cryptography. He might now be underway to visit the future, as he used his Bitcoins to cryopreserve his body hoping to be revived one day from a state of cryonic freezing. Regarding this, his wife Fran said “Hal liked the present. But he looked towards the future. He wanted to be there. And this is his way to get there.”

Thread: SO, PLEASE CORRECT ME IF I'M WRONG on these problems with the Lightning Network! NOTE: all corrections MUST contain a cite to an official source document to be taken seriously.1. It doesn't exist. (beyond a testnet with the alpha software)

Re: 60% of revenues spend on electricity is too much. Maybe, but that's not even what's shown by the #Bitcoin#energy index. The keyword here is "ultimately". More like ~10% in costs currently. ($1.6B vs $16B). Please read carefully. pic.twitter.com/lPf3s1vPfT

People tend to "forget" #Ethereum doesn't have a fixed limit. It may take a bit to respond to sudden increases in traffic, but that's fine. Won't find it very surprising if the transaction number hits a million soon. twitter.com/TokenHash/stat…

@AnthonyTerrick@LaurentMT@CoinSciences A block is rather meaningless when comparing. It’s a collection of transactions, but it should be relating to something familiar to be useful in a comparisson - and that’s typically a single transaction.

@LaurentMT@CoinSciences Oh I’m not referring to the distribution within #Bitcoin, I’m saying that #BTC is a deflationary system by design (so it will increase in value) that is decreasingly accessible for the poor (with fees peaking at $20 per TX). This will further increase the gap.